A remodeled condo at Kukui Plaza

By E. Clarke Reilly

Published: 2013.02.11 12:36 PM

Yesterday’s first open house at this one-bedroom condo in Kukui Plaza was so popular, realtor Jolie Yu didn’t even have a chance to take a breather.

It’s easy to see why. The 615-square-foot unit was completely remodeled (except the bathtub). The kitchen features marble countertops, a SubZero refrigerator and a professional Viking stove. Oak laminate flooring was installed throughout the living and bedroom areas, along with new double doors that screen off the bedroom for privacy.

I love how the bathroom has a small dressing area with facing double-sized closets, and how the rest of the space is partitioned off with a glass block wall.

“The renovation is very classy and tasteful,” says Yu, of Coldwell Banker Pacific Properties. “It’s rare to find a unit at this level in Kukui Plaza, or even in town.”

The location can’t be beat if you work downtown. It garners a 92 on Walkscore.com making it a “walker’s paradise,” close to shopping, restaurants and entertainment.

The apartment is leasehold, but it’s fee available, meaning if you pay approximately $25,000, you can get out of the lease. However, you should be aware that this condo has something called a sandwich lease as well.

Basically, there's a master lease which will expire in 2048, which has no lease rent, and if you pay the extra fee, you’re out of that lease. However, the sandwich lease would remain and you'd have to pay $12.56 a year until 2048, when it expires.

It’s something to think about, but it shouldn’t deter you from considering a property like this.

The maintenance fee is low, $355 a month, and it won’t necessarily increase too quickly. In an effort to keep costs down, last year Kukui Plaza installed a photovoltaic system on top of the 32-story mixed-use complex.

If you’d like to see it for yourself, there will be a broker’s open house (open to the public) on Wednesday from 10 a.m. to 12 p.m. and an open house on Sunday, Feb. 17, from 2 to 5 p.m. Click here for details.